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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

Income tax expense is comprised of the following for the indicated periods (in thousands):

		Years Ended September 30,
		2024				2023				2022
Current:
Federal		$	11,964			$	9,902			$	11,900
State			5,356				4,583				5,019
Deferred
Federal			(2,719	)			(843	)			(2,563	)
State			(1,270	)			342				(618	)
		$	13,331			$	13,984			$	13,738

Provision for Income Taxes Differs from Income Taxes

The provision for income taxes differs from income taxes computed at the Federal statutory rate as a result of the following (in thousands):

		Years Ended September 30,
		2024				2023				2022
Income from continuing operations before taxes		$	48,554			$	45,929			$	49,026
Provision for income taxes:
Tax at Federal statutory rate		$	10,196			$	9,645			$	10,295
State taxes net of federal benefit			3,145				3,401				3,251
Permanent differences			286				520				249
Expiration of State NOL			2,160				—				—
Change in valuation allowance			(2,328	)			252				208
Other			(128	)			166				(265	)
		$	13,331			$	13,984			$	13,738

Components of Net Deferred Taxes

The components of the net deferred taxes for the years ended September 30, 2024 and September 30, 2023 using current tax rates are as follows (in thousands):

		September 30,
		2024				2023
Deferred tax assets:
Operating lease liabilities		$	26,534			$	27,473
Net operating loss carryforwards			2,516				5,178
Vacation accrual			2,785				2,775
Pension accrual			3,507				3,696
Allowance for bad debts			1,687				2,285
Insurance accrual			1,628				1,870
Inventory capitalization			—				955
Fair value of derivative instruments			4,261				—
Other, net			350				198
Total deferred tax assets			43,268				44,430
Valuation allowance			(2,109	)			(4,437	)
Net deferred tax assets		$	41,159			$	39,993
Deferred tax liabilities:
Operating lease right-of-use assets		$	25,257			$	26,025
Property and equipment			14,502				14,937
Intangibles			20,152				19,897
Fair value of derivative instruments			—				1,270
Other, net			3,170				3,635
Total deferred tax liabilities		$	63,081			$	65,764
Net deferred taxes		$	(21,922	)		$	(25,771	)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
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